The latest spate of redesigns and rebranding efforts has failed to help lift the fortunes of Specific Media owned social networking site MySpace. The site has slipped out of the top 10 most visited social networks in the UK for the first time. This will come as a further hammer blow to the website that was the most visited social network for three years in a row.
When it comes to social networking, MySpace is one site that can claim to have helped start the phenomenon. Launched in 2003, it was the most visited social networking site in the world between 2005 and 2008 but since then it has endured a steady slide down the rankings. As sites like StumbleUpon, which has grasped that tenth place spot away from the music site, have improved their fortunes with a series of redesigns and improvements, MySpace has only been able to watch in envy.
News Corporation Sells up
2011 saw another change of ownership from the site with News Corporation selling to Specific Media and Justin Timberlake for $35m; just 6% of $580m that Murdoch backed News Corporation paid for the site in 2005. The site lost a lot of followers over spam problems while competitors have arrived in the shape of social networks like Facebook and social media sharing sites like YouTube. Both have gone on to enjoy improved ratings compared to the former heir to the throne.
MySpace has, until now though, managed to hold on to a top 10 place in the list of most visited social network sites in the UK. However, according to Hitwise statistics, this is no longer the case and the former giant has been replaced by StumbleUpon, a site which describes itself as a discovery engine and has undergone radical changes of its own.
The decline of MySpace traffic has been monumental over the past 3 years. It held around a 6% share of social networking traffic 3 years ago, compared to the most recent 0.31%.
With all of that said, if you are embarking on a social media campaign then you need to choose your websites carefully and well. MySpace does still have a strong following and it is highly probable that more changes are afoot. Being owned by Justin Timberlake would imply that further musical direction will be introduced, too, so the site could still benefit those that target a young, music loving crowd.














